The proposed bill would amend current statutes related to the government property lease excise tax (GPLET) by introducing new requirements and restrictions. It would prohibit the abatement of GPLET revenue designated for school districts, ensuring that school districts receive their allocated funding. Additionally, the bill would require government lessors to maintain a public database of GPLET leases, post lease agreements on their websites, and include specific information about each lease, such as the county assessor's parcel number and the lessee's name. This aims to enhance transparency and accountability in the GPLET process. Moreover, the bill would add community college districts to the list of entities that must receive notifications regarding proposed government property improvements and require notices to include estimates of property tax revenue that will be foregone during the GPLET lease term. It would also mandate that the Arizona Department of Revenue (ADOR) post annual GPLET tax return reports on its website within 30 days of receipt. Overall, these updates are designed to improve the management and oversight of GPLET, ensuring that tax revenues are appropriately allocated and that relevant stakeholders are informed.

Statutes affected:
Introduced Version: 15-971, 42-6202, 42-6204, 42-6206, 42-6209, 15-947, 15-961, 41-1276, 15-447, 15-943, 15-973, 15-255, 15-904, 15-766, 15-767, 37-521, 42-5029, 42-5029.02, 35-173, 42-6208, 42-18053, 42-6203
Senate Engrossed Version: 42-6202, 42-6204, 42-6206, 42-6209, 42-6208, 42-18053, 42-6203